TC Energy (NYSE:TRP) Reaches New 12-Month High - What's Next?

Key Points

• TC Energy hit a new 52-week high of $65.97 (last $65.85) on Thursday with about 668,462 shares traded, trading above its 50- and 200-day moving averages.
• Analyst views are mixed: MarketBeat shows a consensus "Moderate Buy" and $77 average target, but firms including TD and Citigroup have become more cautious and US Capital Advisors cut FY2026–FY2028 EPS (FY2026 to ~ $2.47), signaling near-term earnings pressure.
• TC Energy raised its quarterly dividend to $0.8775 (annualized $3.51) for a 5.2% yield, though the dividend payout ratio is high at ~108.6%, which could raise sustainability concerns.

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP shares hit a new 52-week high during trading on Thursday . The company traded as high as $65.97 and last traded at $65.85, with a volume of 668462 shares traded. The stock had previously closed at $63.96.

Key Headlines Impacting TC Energy

Here are the key news stories impacting TC Energy this week:

• Positive Sentiment: Inclusion on a recent list of top infrastructure stocks (mentions a CIBC upgrade on April 23) provides some buy-side interest and narrative support for TRP as an income/infrastructure play. Article Title
• Neutral Sentiment: Consensus full‑year EPS remains around $2.78 despite the revisions, leaving overall analyst expectations intact for now even as individual firms trim forecasts.
• Negative Sentiment: US Capital Advisors issued a package of downward EPS revisions across multiple quarters and fiscal years (multiple notes issued April 27). Cuts include lower estimates for Q1–Q4 2026 quarters and reductions to FY2026, FY2027 and FY2028 numbers — e.g., FY2026 now ~ $2.47 (from $2.61 prior) and FY2027 trimmed to ~$2.62 (from $2.70). These lowered forecasts signal the analyst’s view of softer near‑term earnings drivers and are a headwind for the stock.
• Negative Sentiment: Unusual options activity: traders bought ~16,157 put contracts on Wednesday (a ~1,446% jump vs typical daily put volume). Heavy put buying can indicate increased hedging or directional bearish bets and may amplify downward pressure or volatility in the near term.

Wall Street Analyst Weigh In

TRP has been the subject of a number of research reports. Citigroup reaffirmed a "neutral" rating on shares of TC Energy in a research report on Thursday, February 19th. TD Securities cut TC Energy from a "buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Wells Fargo & Company reiterated an "overweight" rating on shares of TC Energy in a research note on Monday, February 16th. Barclays reiterated an "overweight" rating on shares of TC Energy in a research note on Friday, February 20th. Finally, Wall Street Zen upgraded TC Energy from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $77.00.

TC Energy Price Performance

The stock has a 50 day simple moving average of $63.02 and a two-hundred day simple moving average of $57.69. The firm has a market cap of $69.86 billion, a PE ratio of 28.85 and a beta of 0.69. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the business earned $1.05 EPS. Sell-side analysts expect that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.51 annualized dividend and a dividend yield of 5.2%. This is a boost from TC Energy's previous quarterly dividend of $0.85. TC Energy's dividend payout ratio (DPR) is presently 108.62%.

Hedge Funds Weigh In On TC Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of TC Energy in the 4th quarter valued at about $25,000. Sterling Capital Management LLC acquired a new stake in TC Energy in the 1st quarter worth about $26,000. Trust Co. of Vermont acquired a new stake in TC Energy in the 4th quarter worth about $28,000. Westside Investment Management Inc. boosted its holdings in TC Energy by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company's stock worth $32,000 after buying an additional 297 shares during the last quarter. Finally, McIlrath & Eck LLC acquired a new stake in TC Energy in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

About TC Energy

TC Energy NYSE: TRP is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company's principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.

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